BUAD 202 Study Guide - Final Guide: Computer-Aided Manufacturing, Lean Manufacturing, Texaco
Document Summary
Form utility- the value added by the creation of finished goods and services. Process manufacturing- part of production that physically or chemically changes your materials. Assembly process- part of process that puts components together. Continuous process- long production runs that produce the finished product. Intermittent process- short production runs and machines within the production are changed frequently. 7 leading u. s. manufacturing states- cal. , michigan, illinois, ohio, penn. , texas, new. Michigan is the least of the leading states. Production- the creation of finished goods and services using the factors of production: land (not only property but what"s underneath as well, ex. Oil), labor, capital (money that helps continue business until sale), entrepreneurship (risk of the production), and knowledge( information) ex. Three characteristics of successful production: build and deliver products in response to the demands of the customer at a scheduled delivery time, provide an acceptable quality level, provide everything at the lowest possible cost.
